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What is Residual Income?

Do you want to continue working 50, 70, 100 hours a week the rest of your life? Do you want to continue the long hours, or physical work that you know you can't keep up? Good! Neither do I. Do you want to be able to take time off whenever you want to, without worrying about what's going to happen to your business? So do I! Have you ever heard? "Don't make yourself irreplaceable. If you can't be replaced, you can't be promoted." As an online business entrepreneur, this is still true in its own way. Let's think of "being promoted" as earning more and working less. You can try to sell higher priced items, but until you can remove yourself from being directly involved in doing the work that generates the income.  There's always going to be a limit to how much you can earn, and it can only increase very slowly. Passive income, on the other hand, is income that does not require your direct involvement. Some kinds of passive income you may be familiar with include owning rental property, royalties on an invention or creative work, and network marketing. If you want to earn more, work less, and have a decent retirement, you're going to have to start creating income streams that do not require your direct involvement. Whether you're just starting your business, or you've been running it a while, the sooner you start thinking about how you are going to shift your business model to create more passive income, the sooner you can achieve personal and financial freedom. Start finding ways to "replace yourself" in your business to create true residual income. Get started with your residual income builder today by putting in your name and email and take the steps, no matter how small they may seem to generate the goals you desire.

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11 comments
Shannon Lee
Shannon Lee

great explanation! ...happy I have it \U0001f44d

Heather Shay
Heather Shay

Yes! Yes! Residual income makes life so much easier. So grateful I found the path to Residual income! =)

Denise Thiefault Cully
Denise Thiefault Cully

Residual income is great but still takes work! Something people have the expectation of getting something for nothing. The laws of the universe don't work that way.

Tyronne Ratcliff
Tyronne Ratcliff

Once I got my first taste of residual income I was hooked!

Garry Mclachlan
Garry Mclachlan

we all have residual bills, why not have residual income.

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